It refers to an account that has shown little to no activity over an extended period.. What is a Dormant Account ? How a Dormant Account Works The Escheatment Process for Dormant Accounts Treatment of Dormant Accounts Risks Associated with Dormant Accounts Dormant Account FAQs . Dormant Accounts : A bank account is considered dormant if there have been no transactions for a specified period. The period varies depending on the bank’s policy, but it typically ranges from 12 to 24 months. What is a Dormant Savings Account ? Your savings/ current account will be considered dormant if you do not make any transactions through it for more than 24 months. A dormant account is a bank account with no transactions for a long period, typically 12-24 months, becoming inactive per bank policies.
